Cyprus

About Cyprus

The Republic of Cyprus became part of the European Union in 2004. This beautiful country is located in the Mediterranean Sea. The people are very friendly and the beaches are beautiful.

Life Style:

Some of the qualities that Cyprus has include the latest infrastructure in facilities, modern transportation, high standard of living, quality medical facilities, outstanding academic institutions, a stable political situation and a government based on British Law. This country has rich historic value, as its the birth place of the ancient “Goddess of Love” Aphrodite. The official languages are Turkish, English and Greek but English is normally spoken.

Taxation:

Cyprus has the lowest tax rates in Europe and it has a lot of tax exemptions for non – residents.

Business:

The geographical location of Cyprus makes it an ideal destination for International companies to start their business here. This country is situated between Africa and the Middle East. The Central Bank of Cyprus has permitted all major currencies to trade in Cyprus. Hence, it is an ideal opportunity for business owners to have started their business in this country.

Favorable Property investment Opportunities:

Real estate agencies have predicted a strong market for investors in the near future. Property investment in Cyprus is extremely promising because of its tax laws and its connection within the European Union. This country has everything that can entertain you including classy restaurants, luxurious malls and beautiful beach sights.

Cyprus is the only European country that offers its citizenship and passport in just 6 months, with no physical residency requirements.

If you have a Cypriot Passport, you can live in almost twenty eight countries in Europe.

You can travel to about 159 countries without a visa if you have a Cyprus passport.

CYPRUS ADVANTAGES

  1. Free movement of people. People can travel, reside and work within the EU.
  2. All family members can obtain Cyprus citizenship. The spouse of applicant, children aged less than 18 years, and adult dependent children [aged over 18 years and up to 28 years old would be covered under the same family.]
  3. There is free movement of capital. A person can transfer any amount of money from any EU Member State to another, purchase a property in any EU Member State of choice and invest in any activities of choice.
  4. There is a free movement of services. Individual citizens and companies can offer services without hindrance in all EU Member States.
  5. There is a free movement of goods. All goods produced in all EU Member States can be transferred freely from any Member State to another.
  6. There are big tax advantages of Cyprus. Neither the Applicant nor any of his family members become a tax resident in Cyprus unless he or she spends more than 183 days in any calendar year in Cyprus.

Cyprus’ Program and Fees

A person wanting citizenship in Cyprus would have a requirement to invest in a property of at least 2 million Euros provided there is a development plan in place [land in non-development zones will continue to fall outside the scope of eligible real estate]. The investor’s parents can apply for Cyprus Citizenship also provided they own/purchase a permanent residence with a minimum acquisition cost of 500,000 Euros. All family members under the main applicant and the spouse can obtain the Cyprus Citizenship for the 2 million Euro limit but the 500,000 Euro for the parents of the main applicant or spouse would be on top of the 2 million Euros. One property could be bought at 2.5 million Euros to cover everyone if that was decided.

Government Bonds can be part of the 2 million Euro purchase or it can all be in one property or several properties but the Government Bonds are limited to 500,000 Euros.

The applicant must be a holder of a Cyprus residence permit, or apply for such in order to qualify for citizenship. As such ,an application for a residence permit can be submitted simultaneously with the filing of a citizenship application [only the CBI investment requirements will need to be met].It should be noted there is still no requirement for the investor to live or physically reside in Cyprus before, during or after the CBI application process is taking place.

Most importantly, the Cyprus CBI program will retain its industry leading 3-month average processing time being by far the quickest route to EU citizenship.

Government Fees:

  1. The primary investor pays 2000 Euros at the submission of the application and if the application is approved, the amount of 5000 Euros is paid as a fee for the issuance of the Naturalization Certificate.
  2. The investor spouse’s fee in the amount of 2000 Euros is also paid at the submission of the application and if the application is approved, the amount of 5000 Euros is paid as a fee for the issuance of the Naturalization Certificate.
  3. The fee for the investor’s adult child 18-28 years old would be 2000 Euros per child paid at the submission of the application and if the application is approved, the amount of 5000 Euros is paid as a fee for the issuance of the Naturalization Certificate.
  4. The fee for the investor’s minor child under 18 years old would be 80 Euros at the submission of the application and zero for the Naturalization Certificate. See chart below for total fees including stamp fees and expedited passport fee to give a total for each person. For now, one property of at least 500,000 Euros has to be kept for life by both the applicant and the parents but multiple properties can be bought by either with at least one property from the Main Applicant and Parent being at least 500,000 Euros. The government might reconsider this but this stands for now.

NOTE: THERE ARE NO EXTRA GOVERNMENT FEES FOR THE DUE DILIGENCE FEES OTHER THAN WHAT IS LISTED ABOVE. DUE DILIGENCE IS UNDERTAKEN BY THE BANK DURING RECEIPT OF FUNDS AND THE GOVERNMENT DURING PROCESSING.

The property must be held for at least 3 years before being sold from the date of approval of the application by the Council of Ministers.

The investor will apply for permanent residency simultaneously with his citizenship application. The PR Card is issued within 5 days. The government will issue an “in principle approval” of citizenship after 3 months but the applicant will have to wait another 3 months to collect the passport and ID because it is necessary for him to hold the PR Card for a total period of 6 months in order to complete the naturalization process. There remains as mentioned above no actual physical residency period.

CITIZENSHIP PROCESS AND REQUIREMENTS

STEP 1 – SELECT REAL ESTATE INVESTMENT

Completion of the investment is a prerequisite of the citizenship program and a receipt of payment is required at the time of submission of the application.

STEP 2 – SUBMISSION OF APPLICATION

Please refer to the list of required documents for the citizenship application. Client presence in Cyprus is required at the time of submission in order to give biometric data. Documents issued by foreign authorities [Passport Copy, Marriage, Birth and Police Clearance Certificates] must be prepared in the prescribed manner, as detailed on the attachment. Once submitted a “Confirmation of Submission of Naturalization Application” will be issued. At this stage a government submission fee of 2000 Euros per adult must be paid.

Every adult applicant is required to be a holder of PR card for a period of at least 6 months prior to collecting his passport/national ID. The PR application is submitted to the Civil Registry and Migration Department immediately after the submission of the citizenship application. The PR card is issued within 5 days and can be collected by the client or his representative. The following documents are required:

  1. FORM MIP1
  2. COPY OF CLEAN CRIMINAL RECORD CERTIFICATE
  3. COPY ODF PASSPORT
  4. COPY OF MARRIAGE CERTIFICATE/CIVIL PARTNERSHIP CERTIFICATE
  5. CONFIRMATION OF SUBMISSION OF APPLICATION FOR NATURIZATION BY EXCEPTION DOCUMENT.

STEP 3 – EXAMINATION PROCESS

The time frame set by the government for the examination of the naturalization application is 3 months. At this stage you will receive an “in principle approval certificate” and will be able to complete the naturalization process after having held the PR card for a total period of 6 months. Passport/ID’s can be collected in Cyprus or at a Cyprus Embassy within 3 months of receiving official approval. The government approval fee of 5000 Euros per adult is payable at this stage.

STEP 4 – DEPENDENTS

SPOUSE

The application for the spouse can be deposited simultaneously with the main applicant’s application or at any point after its completion. Please refer to the procedure detailed in steps 2 and 3.No additional financial criteria apply.

CHILDREN

Applications for children may be submitted after the main applicant has received approval, once in possession of the Naturalization Certificate. The processing times are as follows:

Minor children [under the age of 18] examined within 30 days.

Students can apply up to the age of 28 who are attending an institution of higher education aiming to obtain a diploma or an undergraduate or a master’s degree. The application would be submitted after the main investor is in receipt of his approval certificate. They are examined as per the process described above in steps 2 and 3.

PARENTS

Application for parents would be submitted after the main investor is in receipt of his approval certificate. Application examined as per the process described above in steps 1, 2 and 3.Minimum investment requirement. Residential property/ies of a minimum purchase price of Euro 500,000 + vat. The parent’s property/ies must be acquired in their name or in the name of a company to which they are the ultimate beneficial owners. Dependent parents and the main investor may acquire a single property provided that the sale agreement indicates the shares of each owner, which attribute to him the relevant minimum required investment.

SEE FEES BELOW:

Item Disbursements per adult applicant
Stamp on application form EUR 8.54
Filing of citizenship application EUR 2,000.00
Filing of PRP application (fee covers main applicant and his/her spouse) EUR 500.00
Issuance of PRP card EUR 70.00
Issuance of Certificate of Naturalization EUR 5,000.00
Stamps on Certificate of Naturalization EUR 8.54
Issuance of expedited passport EUR 120.00
Issuance of ID Card EUR 30.00
TOTAL EUR 7,737.08
Item Disbursements per adult dependent
Stamp on application form EUR 8.54
Filing of citizenship application EUR 2,000
Filing of PRP application EUR 500.00
Issuance of PRP card EUR 70.00
Issuance of Certificate of Naturalization EUR 5,000
Stamps on Certificate of Naturalization EUR 8.54
Issuance of expedited passport EUR 120.00
Issuance of ID Card EUR 30.00
TOTAL EUR 7,737.08
Item Disbursements per minor dependent
Stamp on application form EUR 8.54
Filing of citizenship application EUR 80.00
Issuance of PRP card EUR 70.00
Issuance of Certificate of Naturalization No Charge
Issuance of expedited passport EUR 120.00
Issuance of ID Card EUR 20.00
TOTAL

EUR 298.54

THE ABOVE FEES DO NOT INCLUDE CITIZENSHIP QUICKLY MANAGEMENT CONSULTANCY’S CONSULTATION FEES AND LEGAL FEES.THESE FEES CAN BE QUOTED AT THE TIME OF APPLICATION.THESE FEES ARE MERELY A REPRESENTATIVE OF WHAT THE GOVERNMENT’S FEES AND COST WERE AT THE TIME THIS NOTICE WAS PRINTED.UPDATES ARE ADDED AS WE GET INFORMATION DIRECT FROM THE GOVERNMENT OF THE COUNTRY BUT COULD BE DIFFERENT AT THE TIME AN APPLICANT APPLIES.

FOR MORE DETAILS CONTACT CITIZENSHIP QUICKLY MANAGEMENT CONSULTANCY,A DUBAI LOCAL COMPANY,Concord Tower,6th Floor,Dubai Media City,Dubai,UAE
[P.O. Box 126732,Dubai,UAE],

OFFICE: 97144549824 ( 9am to 5 pm GST Support (UAE) , CELL: 971523265778 EMAIL:info@citizenshipquickly.com

SKYPE ADDRESS: Tom Norfleet

WhatsApp:+971523265778

Cyprus Visa Free Countries

Visa Free and Visa Free on Arrival Countries

Albania Andorra
Anguilla Antigua & Barbuda
Argentina Armenia
Aruba Australia
Austria Bahamas
Bangladesh Barbados
Belgium Belize
Bermuda Bolivia
Bosnia & Herzegovina Botswana
Brazil British Virgin Islands
Brunei Darussalam Bulgaria
Burundi Cambodia
Canada Cape Verde
Cayman Islands Chile
Colombia Comoros
Costa Rica Croatia
Curacao Czech Republic
Denmark Djibouti
Dominica Dominican Republic
Ecuador Egypt
El Salvador Estonia
EU (Cyprus) Falkland Islands
Fiji Finland
France French Guiana
French Polynesia Gambia
Georgia Germany
Greece Greenland
Grenada Guatemala
Guinea-Bissau Guyana
Haiti Holland
Honduras Hungary
Iceland Indonesia
Iran Ireland
Israel Italy
Jamaica Japan
Jordan Kenya
Kiribati Kuwait
Kyrgyzstan Lao
Latvia Lebanon
Lesotho Liechtenstein
Lithuania Luxembourg
Macedonia Madagascar
Malawi Malaysia
Maldives Mali
Malta Marshal Islands
Mauritania Mauritius
Mexico Micronesia
Moldova Montenegro
Montserrat Morocco
Mozambique Nauru
Nepal Netherlands
New Zealand Nicaragua
Norway Oman
Palau Panama
Papua New Guinea Paraguay
Peru Philippines
Poland Portugal
Qatar Romania
Saint Kitts & Nevis Saint Lucia
Saint Maarten Samoa
San Marino Serbia
Seychelles Singapore
Slovakia Slovenia
Solomon Islands Somalia
South Africa South Korea
Spain Sri Lanka
St Helena St Pierre & Miquelon
St. Vincent and the Grenadines Swaziland
Sweden Switzerland
Tajikistan Tanzania
Thailand Timor-Leste
Togo Tonga
Trinidad and Tobago Turkey
Turks & Caicos Islands Tuvalu
Uganda Ukraine
United Arab Emirates United Kingdom
Uruguay Vanuatu
Vatican City Venezuela
Zambia Zimbabwe